Small Enterprise Finance Agency

Small Enterprise Finance Agency

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Small Enterprise Finance Agency

Small Enterprise Finance Agency – Small and medium enterprises make up a major contributor to the economy of South Africa. To help them grow and boost their productivity the necessary finance solutions need to be available. Organizations like the Small Enterprise Finance Agency have been established to offer the necessary finance the SMEs need to grow. SEFA, as it is commonly known, started operating in 2012 and it was a result of a merger of between Khula Enterprises, South African Micro Apex Fund and IDC.

Tell me more about Small Enterprise Finance Agency

The more the small to medium enterprises thrive the more jobs are created and the more poverty levels are reduced. SEFA sees to it that the necessary financial solutions are available for start up, survival and growth of these enterprises. There are different forms of loans you can apply for such as Bridging Loans or Term Loans.

SEFA Bridging Loans – This type of loan is given to help towards the working capital needs of your business. The bridge loan will assist by improving the cash flow in the business. This type of loan is usually short term going up to a maximum period of 12 months and a form of collateral will be required against the loan.

SEFA Term Loans – The SEFA Term Loans are basically loans offered a specific amounts and with a specific repayment period. The loans are offered at fixed or floating interest rates. This type of loan can be used to finance your business’ assets that have a longer lifespan such as Machinery, Office equipment, etc. If you also need finance to start up, expand or buy a new business you can also apply for the Term Loan. The repayment period is between 1 year to 5 years.

SEFA Wholesale Lending Products – In order to help out survivalists, micro, small or medium cooperatives SEFA also provides the necessary lending products to these type of organizations. Loans are available from as little as R500 up to as much as R5 million depending on the size and capability of the business.

What is needed to qualify for SEFA Loans?

To qualify for SEFA Finance the applicant must be a South African Citizen with a valid ID and must be the owner of the business. The business must be operational within South Africa and compliant with the corporate governance practices. You will be required to loan application form as well as the necessary supporting documents. You must also have the right and means to provide an asset as collateral for the loan. Your ability to repay the loan and your credit profile are also taken into account. Applications can be done at any SEFA office nearest to you.

Small Enterprise Finance Agency Contact Details

So if you are a SME and in need of funding you can contact Small Enterprise Finance Agency on telephone 0860 007 332 or 011 403 1761. You can also send a Fax to 086 605 8672 or email helpline@sefa.org.za. For more information feel free to visit their website www.sefa.org.za.

NB: Visit Our Loan Calculator Page Here